The EMV liability shift is fast approaching, leaving card issuers and customers alike watching closely to see how the transition plays out and what’s next. The rumor mill has steadily created some misunderstandings about the EMV liability shift, and we’d like to take the opportunity to debunk the four we’re hearing most often.
Fifty-four percent of those 2014 breaches related to identity theft; 17 percent to financial access; and 11 percent to account access. And in that year, 32 data records were lost or stolen every second—averaging out to almost 2.8 million a day. In a world of widespread breaches, card issuers must look at reissuance as an opportunity.